It has been a bad week for technology stocks. The Nasdaq tumbled 2.7% on Wednesday and fell a further 2.1% on Thursday.
But, according to Ives, the digital transformation is just getting started and will last a number of years among companies in cloud, cybersecurity, e-commerce and 5G. These subsectors are the life of the tech party, with consumer and enterprise demand catalyzing a “multiyear growth boom” ahead, the analyst said.
More broadly, Ives said that Uber UBER, +4.65% and Lyft LYFT, +3.64% — “disruptive tech recovery names” — remain Wedbush’s favorite “reopening plays,” with profitability on the horizon and a massive surge in food delivery.
Mission “Equity”.
It’s the final leg. Will be a parabolic move. Fueled by FOMO. A blow-off top. A melt-up. Use 15% trailing stops and tighten stops to 2-5% after 20%+ gains.
First they short wiping out retailers money, then they sell such articles for next round
Good advice for July
Is it a dip, correction or is it a little tech bear market? Which no analyst can answer. This is a dangerous little article. Sounds like the “analyst” tech stocks are down.